Le Lézard
Classified in: Transportation
Subject: SVY

The automotive OEM premium audio market will register a CAGR of over 5% by 2023

LONDON, Feb. 11, 2019 /PRNewswire/ -- About this market
The global luxury vehicle market is witnessing growth in popularity and their demand year-on-year, which has accelerated the sales volume of premium or luxury vehicles. Luxury vehicles find a high penetration rate of advanced comfort and convenience functionalities, which also increases their value proposition. The growth in volume sales of vehicles from such luxury automakers is indicative of the growing market for OEM premium audio systems. This growth is attributable to most of these vehicles being offered with premium audio systems as part of in-car entertainment packages either as standard or optional fitment. Technavio's analysts have predicted that the automotive OEM premium audio market will register a CAGR of over 5% by 2023.

Download the full report: https://www.reportbuyer.com/product/5734244

Market Overview
Growing demand for differentiated in-car experiences
The world automotive industry is experiencing a rapid change in dynamics whether it is from buyers end or the supplier's perspective. The advancements in automotive technology and an increasing penetration rate of automotive electronics in vehicles has intensified the competition in the global automotive market highly. This increase in the penetration of advanced automotive technologies and features in lower variants of mid-segment vehicles has invariably led to high consumer expectations.
Advanced audio system may result in cognitive distraction
The advanced in-car audio systems feature numerous functionalities that can be controlled through voice commands as well. However, this has increased the risk of driver distraction. Automotive experts have found that such systems are increasingly resulting in cognitive distraction, which has a negative impact on driving performance. Therefore, these factors may impede the growth of the global automotive OEM premium audio market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the automotive OEM premium audio market during the 2019-2023, view our report.

Competitive Landscape
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

Download the full report: https://www.reportbuyer.com/product/5734244

About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers

For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: sarah@reportbuyer.com
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com

SOURCE ReportBuyer

These press releases may also interest you

at 15:01
Cheapquotesautoinsurance.com has launched a new blog post that presents which discounts are the best for lower car insurance rates. For more info and free online car insurance quotes, please visit...

at 14:51
Cheapquotesautoinsurance.com has launched a new blog post that presents several common traffic violations and how they affect the costs of car insurance. For more info and free online auto insurance quotes, please visit...

at 13:53
The first 5 KM YQB race, a unique event, drew 1200 runners from the greater Québec City area for the privilege of setting foot on the main runway at Québec City Jean Lesage International Airport (YQB). In addition to the 5 km course, a 1.5 km course...

at 10:00
Value chain management firm River Rock Advisors (RRA) has for the second time been recognized on the 100 Great Supply Chain Partners list featured in SupplyChainBrain ? a comprehensive supply chain management information resource covering trends,...

at 08:00
Whenever people go car shopping, they often are on the lookout for the best deals and offers. In fact, shopping during a sales event is often the best time to buy a vehicle, as drivers can save money or get the lowest interest rates while financing a...

23 aoû 2019
A group of 159 moving truck drivers has agreed to settle its Fair Labor Standards Act (FLSA) claims against dozens of former affiliates of the dissolved national moving company Graebel Van Lines for $2.65 million, the Fogler, Brar, Ford, O'Neil &...

News published on 11 february 2019 at 18:08 and distributed by: